Australian Dollar Benefits from Oil Bounce

The Australian dollar hit a two week high after rumors of the Reserve Bank of Australia raising interest rates before the end of the year and the price of crude oil jumping almost 2 percent today. The Australian central bank is thought to be one of the most likely to move away from its record lows while policy makers in places like Israel have begun to hike rates.

China plays a big part on the behavior of the aussie currency as a drop in demand for commodities by the Asian Super power will undoubtedly impact this economy who heavily relies on exports of said commodities.

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza